Bangkok real estate investments in the city center


Real estate investment in capital cities is often most lucrative when done as close to the city center as possible, and Bangkok is no different. It’s like the old saying: “All roads lead to Rome.”

The most central area of ​​Bangkok is from Siam Square to the Asoke junction. If you buy a rental property anywhere along this route, you will almost certainly find long-term renters throughout the year. If you are buying a property to live in, you will also benefit from capital appreciation; something that has been a constant in Bangkok for many years.

Property options in central Bangkok

The biggest drawback with Bangkok real estate has been the lack of property options, namely houses. Downtown has always been short on single-family and semi-detached investment opportunities. For the most part, the houses were either unavailable or out of the investor’s budget. The reason why housing prices are so high is due to the lack of available land, caused mainly by the incessant construction of condominiums and apartments in recent years.

Consequently, between the BTS stations from Siam Square to Ekamai (downtown Sukhumvit), there are hardly any new single-family homes in Bangkok or single-family housing projects to invest in. This scarcity of land makes condominiums a favorite option for developers and investors alike.

In Chidlom, also known as Chit Lom (just one stop east of Siam Square), condos and apartments are generally high-end and therefore command higher rental prices and good capital appreciation. As with any prime location in any major city center, the initial investment in Chit Lom is higher than in other areas of the Thai capital. However, given the level of demand for the location, investments here do pay off.

The Chidlom address

An example of the quality and style of condominiums in the Chidlom area is The Address Chidlom. This is a beautifully designed luxury boutique condo type in art-deco style.

The Address Chidlom is a high-rise condominium consisting of two towers (A and B). Tower A has 24 floors and Tower B has 22, housing a total of 597 units between them. Room options range from studio, 1-3 bedroom. Facilities include:

  • pool
  • arab room
  • gym
  • Game room
  • event hall
  • Sauna / Steam bath
  • Garden
  • City View
  • Children’s Room / Playground
  • Clubhouse/Function Room
  • Covered parking
  • 24 Hour Security / Closed Circuit TV / Card Entry

Completed in 2010, The Address Chidlom is a well built construction that incorporated top notch fixtures and fittings into the project. In fact, this is one of the few condos in Bangkok to have double-glazed windows as standard.

Summary

The Address Chidlom is an excellent residence. Homeowners who bought off plan enjoy returns of around 5-6%, and even 4-5% if they buy today. You may notice that these rent returns are slightly lower than other properties we’ve looked at in previous articles in this series. However, this slight decrease in rental profitability is largely offset by the added value of a property of this type.

Located in a prestigious neighborhood very close to the BTS Chidlom Skytrain station and the Central Chidlom shopping complex, The Address Chidlom is both a good home and a decent property investment.

Asoke Junction, Central Bangkok

Moving five more stations along the BTS line from Siam Square, you’ll find a plethora of condominiums in and around Bangkok’s Asoke Junction. Asoke Junction is not only where Sukhumvit Road meets Asoke Road, but also where there is an interchange to link Asoke BTS (Skytrain) station with the Sukhumvit MRT (subway) line.

The wind 23, Asoke

Asoke area is really an important and busy central crossroads in Bangkok. Obviously, there are great condos in these areas to invest in. One of the best at the time of writing is The Wind 23 condo, also called The Wind Asoke.

The Wind 23 (so named because the design allows the breeze to circulate throughout the building) is a modern high-rise condominium. There are 22 floors that house 220 individual units with one and two bedrooms, plus Penthouses on the upper floors. Facilities include:

  • barbecue terrace
  • Playground
  • Comfortable lounge and waiting room
  • driveway parking
  • gym
  • Infinity pool with sunken Jacuzzi
  • Luxury main lobby with reception desk
  • minibasketball
  • multipurpose room
  • table tennis
  • 24 hour security system with closed circuit television

Completed in 2010, these well-appointed, beautifully designed, ultra-stylish and light-filled condominiums offer affordable luxury for both the Bangkok property investor and renter. This high-rise development has modern tropical charm with an innovative ventilation system (something quite unique to Bangkok residential condominiums).

Summary

Just 500 meters from Asoke BTS and Sukhumvit MRT, Wind 23 is located right in the heart of the capital, yet is situated in a quiet spot away from the sound of passing traffic and other street noise. There is also a free tuk-tuk service available to residents. Investors here can expect returns in the region of 6-7%. This is one of the most desirable and best located condominiums in the area, making it a good choice for homeowners and renters alike.

The Quattro Condominium

Moving two stops further down the Sukhumvit BTS line, we find many more quality Bangkok condos worth investing in. If you’re looking to buy high-end real estate on Soi Thonglor, then Sansiri’s The Quattro condo is worth considering.

The Quattro Condominium at Thonglor is an exclusive complex of two high-rise towers, one with 28 stories and the other with 36. There are 446 units that vary in size and format. Available rooms include one, two and three bedrooms, as well as Penthouse suites. Quattro facilities include:

  • chill-out terrace
  • Covered parking
  • fully equipped gym
  • Gardens and leisure areas
  • mini market
  • Two pools (plus a kids’ pool)
  • 24 hour security including CCTV and video intercom

Investing in the Quattro condominium is like investing in a Mercedes or Jaguar car. Completed in 2012, this is truly a five-star luxury condominium complex that oozes opulence and style. Each floor has its own private butler and residents have access to a fleet of limousines and drivers to use whenever they wish.

Summary

Living at Quattro Thonglor is like taking an extended stay at a 5-star hotel. With a rental yield between 4-5%, a buy-to-let investment here may not yield the highest returns, but the capital appreciation more than makes up for it. All of these things and more make the Quattro Thonglor a solid investment in Bangkok’s high-end property market.

The Aequa Condominium

Our final pick for the central area is a luxury project that opened in August 2012. The Aequa is a beautifully appointed residential condominium complex in the heart of Bangkok.

This is a 28-story high-rise building housing 153 spacious, well-thought-out 1-2 bedroom rooms. Its modern architecture is of a high international level of elegance and distinction. Condo facilities include:

  • 130% parking capacity
  • BBQ and party area
  • fully equipped gym
  • Gardened area
  • Hot spa (male and female separated)
  • swimming pool with hydrotherapy system (plus children’s pool)
  • Meeting room
  • Onsen (Japanese hot spa),
  • pool cover
  • sky hall
  • smart lobby
  • 24 hour security CCTV, card entry

This condo is very popular with Japanese squatters and despite the high rents it is in high demand and if you visit this building you will soon see why.

Summary

This stylish new Bangkok condo is located in the middle Sukhumvit area of ​​the city. It is a very modern building with easy access to Sukhumvit BTS Prompong and Thonglor stations. It has magnificent facilities and a perfect location for city dwellers. Investing in the Aequa condominium will generate a 5-6% rental return, but like the Quattro Thonglor above, capital appreciation appears to be high.

The conclusion

Of course, with the sheer number of high-end luxury condos on the market right now, we could parse and praise many more of the dozens of fabulous buildings that straddle Sukhumvit Road. Also, the condo cityscape around central Bangkok is forever changing, but at the time of writing, the ones we’ve listed here are our top picks for 2013/14 properties.